Monday, December 31, 2012

Iona Energy Inc. - INA.v

Iona Energy - INA.v is engaged in oil exploration, primarily on the UK North Sea.

On December 28, 2012 the company released News

Iona Energy Inc. ("Iona" or the "Company") (TSX VENTURE:INA) is pleased to announce it has entered into a definitive Sale and Purchase Agreement with Carrizo Oil & Gas, Inc. ("Carrizo") to acquire the entire share capital of its wholly owned subsidiary, Carrizo UK Huntington Limited ("Carrizo UK"), including its interest in License P1114 of UK North Sea Block 22/14b including the near-producing Huntington oil field development ("Huntington"). In addition to customary closing conditions and purchase price adjustments, the transaction is subject only to final approval of the United Kingdom's Department of Energy and Climate Change ("DECC"), and is expected to close prior to the end of January 2013.